UK- Frank Russell Company has added New York-based Suffolk Capital Management to its roster of investment managers. The multi manager hired Suffolk to work on the Dublin and Cayman-domiciled US equity funds worth a respective $1.3bn and $420m.

The appointment represent about $125m for Suffolk and takes its total assignments in Russell’s funds to fourteen.

Suffolk joins a seven other managers in the two funds including Alliance Capital Management, Barclays Global Investors, JP Morgan Investment Management, MFS Institutional Advisors, Peachtree Asset Management, Turner Investment Partners and Strong Capital Management.

“Suffolk is an opportunistic addition to these funds, which already are well diversified by manager and characteristics, since this manager had previously been closed for new cashflows,” says portfolio manager Damian Barry.

“We believe Suffolk will add value in part because they use a highly sophisticated valuation model that determines which stocks are the most undervalued relative to their future growth rates. “